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Viridis Mining and Minerals Limited (ASX:VMM)

ALERT: Price-sensitive ASX Announcement for VMM
Current share price for VMM : $3.120 -0.17 (-5.17%)+
Announcement
Release
26 May 2026 8:27AM
Price at Release
$3.290
Full Release
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Summary
Viridis Mining and Minerals Limited has successfully produced its first batch of high-grade Mixed Rare Earth Carbonate (MREC) at their Demonstration Plant located in Poços de Caldas, Brazil. This plant is among the largest known semi-industrial rare earth processing operations outside China and processes ionic clay feed from the Colossus Project. The achievement marks a significant milestone for Viridis, which plans to advance strategic initiatives such as producing MREC samples for potential partners and validating key process parameters within the Colossus Definitive Feasibility Study. The plant incorporates advanced automation for continuous operation, supporting environmental sustainability, and positions Viridis as a key player in the global rare earth supply chain. The company is on track to place initial long lead equipment orders by Q3 2026 and target commercial operations by 2028.
Key Points
  • Viridis Mining and Minerals Limited achieves first production of high-grade Mixed Rare Earth Carbonate (MREC) at its Demonstration Plant.
  • The Demonstration Plant is located at the Rare Earth Research and Processing Centre in Poços de Caldas, Brazil.
  • The plant is one of the largest known semi-industrial rare earth processing operations outside China.
  • The facility processes ionic clay feed from the Colossus Project, aiming to support early mining operations.
  • Viridis is advancing strategic initiatives, including MREC sample production for potential offtake partners, and validation of the Colossus Definitive Feasibility Study.
  • The plant features an advanced automated process control system for continuous operation and environmental sustainability.
  • Viridis aims to finalize long lead equipment orders by Q3 2026 and targets commercial scale operations by 2028.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.